Question
You have just won the lottery and will receive $610,000 in one year. You will receive payments for 19 years, which will increase 5 percent
| You have just won the lottery and will receive $610,000 in one year. You will receive payments for 19 years, which will increase 5 percent per year. The appropriate discount rate is 12 percent. |
Required:
| What is the present value of your winnings? |
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Personal Finance
Authors: Jack R Kapoor, Glencoe McGraw Hill, Les R Dlabay, Robert J Hughes
1st Edition
0078698006, 9780078698002
